Fox Co. (NASDAQ:FOX) Sees Large Growth in Short Interest

Fox Co. (NASDAQ:FOX) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,300,000 shares, an increase of 6.8% from the October 15th total of 3,090,000 shares. Based on an average trading volume of 867,500 shares, the short-interest ratio is presently 3.8 days. Currently, 2.5% of the company’s shares are sold short.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Institutional Trading of FOX

Hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its position in shares of FOX by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 66,398 shares of the company’s stock valued at $2,576,000 after purchasing an additional 1,143 shares in the last quarter. Geode Capital Management LLC boosted its position in FOX by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock valued at $120,299,000 after buying an additional 92,515 shares during the period. Barclays PLC grew its position in shares of FOX by 3.6% in the 3rd quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after buying an additional 18,802 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of FOX by 0.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company’s stock worth $2,981,000 after purchasing an additional 538 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in FOX by 7.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 30,580 shares of the company’s stock worth $1,187,000 after buying an additional 2,149 shares during the period. Institutional investors own 26.41% of the company’s stock.

FOX Stock Performance

Shares of FOX stock traded down $0.35 during trading hours on Tuesday, hitting $42.40. 126,851 shares of the company were exchanged, compared to its average volume of 1,078,171. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.64 and a beta of 0.81. FOX has a 52-week low of $25.82 and a 52-week high of $44.42. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $39.12 and a 200 day simple moving average of $35.55.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FOX shares. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays raised shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.